Lin, D J; Yu, W D; Wu, C M and Cheng, T M (2018) Correlation between intellectual capital and business performance of construction industry: an empirical study in Taiwan. International Journal of Construction Management, 18(3), pp. 232-246. ISSN 1562-3599
Abstract
Researchers have sought to determine the correlation between intellectual capital and business performance to enable corporations to shape policy decisions that benefit business performance in the past two decades. Previous works have focused on information technology and biotechnology industries rather than on the construction industry. This research aims at developing a construction industry intellectual capital valuation model for managers of construction-related firms to make better decisions in managing intellectual capitals. An empirical study was conducted on the application of the proposed intellectual capital valuation model to four representative firms from the construction industry listed in Taiwan's stock market. It is found from the results of the empirical study that the business performance of construction industry relies highly on intellectual capital. As a result, the managers of construction related-firms should emphasize more on accumulation of the intellectual assets in order to improve their business performance. Moreover, the empirical results also show that the traditionally conceived 'capital- and labour-intensive' construction industry is actually highly intellectually capitalized, with the average values of the MV/BV and Tobin's q values significantly greater than 1.0 similar to that in the high-tech industries.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | business performance; intellectual capital evaluation; time series analysis |
| Index terms: | empirical study, construction industry, time-series analysis, business performance, information technology, Taiwan, manager |
| Subjects: | practitioner, computing systems, industry analysis, research evaluation and metrics, Geography, performance measurement, research methods |
| Topics: | Roles and Professions, Geographical Context, Research Practice, Digital Applications, Quality Management |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here